China to Launch International Digital Yuan Hub in Shanghai, PBoC Confirms
China’s central bank is doubling down on the global expansion of its digital currency, the e-CNY, with plans to establish an international operations center in Shanghai, Governor Pan Gongsheng announced.
Speaking at the prestigious Lujiazui Forum, Pan outlined China’s vision for a diversified global currency system, reducing reliance on a handful of dominant currencies like the US dollar. The dollar’s appeal has waned in 2025, partly due to market volatility triggered by recent US tariff shifts.
Pan also highlighted the risks of traditional cross-border payments, calling them “slow, costly, and exposed to geopolitical disruptions.” In contrast, he positioned the digital yuan as a more efficient, neutral alternative for international transactions.
The Shanghai hub will serve as a key node in China’s push to integrate the e-CNY into global trade and finance.
